Japan Housing and Non-Residential Construction Reports for October
October 2021 Japan Housing Starts
The housing market continued to improve in October with total housing starts increasing 10.4% to 78,004 units for the 8th consecutive monthly gain. Owner-occupied housing jumped 16.6% with rental housing not far behind for 14.5% gain. However, the urban mansion condominium market continued in negative territory, slumping 14.9%. Wooden housing advanced 12% to 46,399 units. Post and beam starts increased 11.6% to 35,967 units. Wooden pre-fab starts were up 14% to 1,068 units and total pre-fab housing rose 7.3% to 9,939 units. Platform frame starts posted a 13.5% to 9,364 units. Results of 2×4 starts by housing type were as follows: single-family custom homes increased 22% to 3,138 units, rental housing was up 8.5% to 5,169 units and built-for-sale spec housing rose 12.9% to 1,012 units. At the current rate of growth, we may see 2×4 starts retake the 100,000 by year’s end.
October 2021 Non-Residential Construction
Total October non-residential starts edged 0.4% lower to 4,077 units. Wooden non-residential fell 13.5% by number of structures as well as floor area. October year to date total non-residential floor area increased 5% to 31.7 million m2. Year-to-date wooden non-residential trailed year prior results by 1.5%. October year to date non-residential wood consumption is estimated at 480,855m3.